The Newport Trust Company is a private company whose US address is in New York City. [1] The Trust is controlled by the Newport Group, through a New Hampshire-chartered trust company. [2] The Trust controls $34 billion in Assets under management on American stock exchanges, [3] including roughly $10 billion in Boeing shares [4] and roughly $3.77 billion in shares of General Dynamics. [5] Its offices are based in Walnut Creek, California. [6]
History
In March 2019, it held significant fractions of around four dozen major American firms, with the notable exception of the IT sector. [3] Its fund distribution was most heavily weighted towards the industrial sector, followed in a 3:1 ratio with the telecommunications sector. [3]
In April 2022, Newport Trust closed a merger deal with Ascensus. [6] [7]
References
- ^ "Newport Trust Co: Private Company". Bloomberg L.P.
- ^ "Evercore Agrees to Sell Its Institutional Trust and Independent Fiduciary Business to Newport Group". PR Newswire Association LLC.
- ^ a b c "Institutional Portfolio: NEWPORT TRUST CO". NASDAQ.
- ^ "Boeing Company (The) Ownership Summary". NASDAQ.
- ^ "General Dynamics Institutional Ownership 2023 (NYSE:GD)". www.marketbeat.com. Retrieved 2023-05-10.
- ^ a b "Ascensus Closes Newport Merger Agreement". Ascensus. April 8, 2022. Retrieved May 19, 2023.
- ^ "Ascensus Scoops Up Newport Group". National Association of Plan Advisors. November 4, 2021. Retrieved May 19, 2023.